Saks (SKS) Buyout Merger Shareholder Class Action Lawsuit
Saks (SKS) buyout and merger summary
Saks Incorporated (SKS) announced that it entered into a definitive merger agreement with Hudson's Bay Company. Under the terms of the announced agreement, public shareholders of Saks will receive $16.00 per share in cash for each share of Saks they own. Public reports indicate that at least one analyst has set a price target of $18.50.
The law offers a mechanism for Saks (SKS) shareholders to challenge the fairness of the proposed transaction
If you are a Saks shareholder and would like to learn more about your rights to challenge the Saks merger, please complete the web form on this page or call George Pressly, Esq. at 1-(800) 631-6234.
The Saks board of directors has explicit duties to SKS shareholders during the acquisition process
- Is $14.00 per share fair value for Saks shareholders?
- Has the SKS board of directors obtained a fair and independent appraisal?
- Will all going-forward compensation packages for current Saks executives been properly disclosed in the proxy statement?
- Has the board of directors properly shopped the company to potential additional suitors?
Saks (SKS) merger review may turn into shareholder class action lawsuit
Saks shareholders can employ a state law procedure that could force senior management and the board of directors to more adequately disclose the complete terms and conditions of the Saks merger. We are investigating whether the proposed transaction is fair to Saks shareholders. The investigation concerns whether the Saks’ board of directors’ process for consideration of the proposed transaction was adequate, whether Saks is acting in its shareholders’ best interests and whether the proposed share price to be paid to Saks shareholders is fair and adequate.
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